Dow plummets 3%, Oil record high 138.5$.

Will it be black Monday (on Monday). Even if the Dollar is crashing and banks are failing. Life will continue, the States may begin to be like Argentina after the crash. Barter will get stronger. The rest of us will continue, albeit with some uncertainty. The press, the president and officials will say it is just a blip. But it is the beginning of the end for Free Market Capitalism, (and monopoly money) and for the Multinational that is not beholden to a country. What went wrong? Messianic instincts! The idea of shaping a legacy was so powerful, bigger than any individual’s common sense. And so at the height of power, people over extended themselves. The NeoCons could see this threat of recession as an opportunity to further their war aims, but a sudden crash could derail war intentions because it will cause social unrest in the US. Increasingly out on a limb is how authority looks, like in a bubble wrap. Like Nixon was. And in the midst of a revolution based on the internet. People all over the world sharing knowledge and attitudes. One of these Mondays there will be a crash. All the major traders will be recognised as rogue traders, without any concern for cum uppence day. The worst part is: in the end everything was contingent on Iraq. Now the western financial system is sinking at the bottom and at the top. These people are in no condition to go to war. They might know how to start a war, with multiple maps and plans. But they have no clue as to what the enemy can do, nor do they know who all of the countries that would join the enemy are. Nor could they be relied upon to make a sane judgment in a crises. Whatever supporters they think they have, they do not include the populations of any country, except perhaps Israel. The NeoCons have lost, it has manifested in the economy. How much more folly are we going to allow?

Citigroup beyond repair

The significance of Citigroup could not be underestimated.

Wikipedia: According to Forbes Global 2000 in March 2007, it is the largest company in the world with total assets of US $2.2 trillion, as of December 2007

Talking of Citigroup is akin to talking about western imperialism, like talking about the pentagon or Bush’s White House. And yes it is a friend of Israel…

The voyage of the Economic Enterprise

To get a “feel” for how crazy things got, Ambrose Evans-Pritchard at The Telegraph in London reports that “Bear Stearns had total positions of US$13.4 trillion. This is greater than the US national income, or equal to a quarter of world GDP - at least in ‘notional terms’.”

By The Mogambo Guru

Financial meltdown?

Yes, and we will survive. Even if the Dollar and Western Banks start collapsing. Universal justice? Universal Kharma? Aren’t we being driven by ‘the defence industry’ anyway?
They never cared anyway.
But these so called ‘Sovereign funds’ wealth accumulated by Sheiks and Nations. They are in a good position. As are the economies that said no to war. We will carry on without the merchants, it is the merchants that have created our current financial system.
Rudolph Steiner said the wealth is in the land.